SOFI
SoFi Technologies, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for SoFi Technologies, Inc..
Coverage
Two Platform Segments Collapsed. One Was Planned; the Other Was a Customer Leaving.
Goldman's Platform Solutions fell 64% and SoFi's Technology Platform fell 23% in the quarter ended 2026-06-30, both inside quarters the rest of the business made look excellent. The declines are the same shape and opposite diagnoses, and the number that separates them is a margin nobody printed.
We Published Four Bank Capital Ratios in One Week. The Highest One Got the Most Sceptical Adjective.
SoFi's CET1 is 18.7% and we called it capital piling up. Bank of America's is 11.2% and we called it real headroom. Both descriptions are correct, and the reason why is the only thing worth knowing about a regulatory ratio.
SoFi Did Not Join the S&P 500 in March. We Named the Company That Took Its Slot.
S&P Dow Jones Indices added Vertiv, Lumentum, Coherent and EchoStar to the index effective March 23. SoFi was not among them, and as of the June changeover it still is not in. Our February coverage rested on prediction-market odds and a retail poll; SoFi has since grown revenue 43% year over year while its market capitalisation fell.
SoFi Q2 2026: Record $1.22B Revenue, Guidance Raised — Stock Falls 10% Anyway
SoFi beat Q2 2026 estimates with record revenue, record originations, and a raised full-year revenue outlook — then the stock sank 10% because profit guidance didn't move. We break down the disconnect.
SoFi's Post-Earnings Crash: Was the 17% Dip a Gift? Noto 'Takes It Personal'
SOFI crashed 17% after a record $1B quarter. Then CEO Noto dropped a 50-minute interview calling out bears and hinting at acceleration. Fresh $30 target from Citizens says the selloff was overdone.
SOFI: S&P 500 Inclusion — March 2026 the Date?
SoFi meets all eligibility criteria with 9 profitable quarters and $25B+ market cap. Prediction markets show 53% odds for March 20 inclusion.
Capital expenditure and cash flow are too large relative to current revenue for the combined Rule of 40 score to be meaningful.
Quarter contextWhere the revenue goes next
Latest: $1.22B (2026Q2)
| Period | Value |
|---|---|
| 2021Q1 | $196M |
| 2021Q2 | $231M |
| 2021Q3 | $272M |
| 2021Q4 | $286M |
| 2022Q1 | $330M |
| 2022Q2 | $363M |
| 2022Q3 | $424M |
| 2022Q4 | $457M |
| 2023Q1 | $472M |
| 2023Q2 | $498M |
| 2023Q3 | $537M |
| 2023Q4 | $615M |
| 2024Q1 | $645M |
| 2024Q2 | $599M |
| 2024Q3 | $697M |
| 2024Q4 | $734M |
| 2025Q1 | $772M |
| 2025Q2 | $855M |
| 2025Q3 | $962M |
| 2025Q4 | $1.03B |
| 2026Q1 | $1.10B |
| 2026Q2 | $1.22B |
Latest: $0.12 (2026Q2)
| Period | Value |
|---|---|
| 2021Q1 | -$1.61 |
| 2021Q2 | -$0.48 |
| 2021Q3 | -$0.05 |
| 2021Q4 | -$0.15 |
| 2022Q1 | -$0.14 |
| 2022Q2 | -$0.12 |
| 2022Q3 | -$0.09 |
| 2022Q4 | -$0.05 |
| 2023Q1 | -$0.05 |
| 2023Q2 | -$0.06 |
| 2023Q3 | -$0.29 |
| 2023Q4 | $0.03 |
| 2024Q1 | $0.02 |
| 2024Q2 | $0.01 |
| 2024Q3 | $0.05 |
| 2024Q4 | $0.29 |
| 2025Q1 | $0.06 |
| 2025Q2 | $0.08 |
| 2025Q3 | $0.11 |
| 2025Q4 | $0.13 |
| 2026Q1 | $0.12 |
| 2026Q2 | $0.12 |
Latest: 37.4 (2026Q2)
| Period | Value |
|---|---|
| 2024Q3 | 71.5 |
| 2024Q4 | 41.6 |
| 2025Q1 | 28.4 |
| 2025Q2 | 37.9 |
| 2025Q3 | 48.9 |
| 2025Q4 | 68.9 |
| 2026Q1 | 36.1 |
| 2026Q2 | 37.4 |
Latest: -$3.99B (2026Q2)
| Period | Value |
|---|---|
| 2022Q1 | -$1.04B |
| 2022Q2 | -$967M |
| 2022Q3 | -$2.90B |
| 2022Q4 | -$2.44B |
| 2023Q1 | -$2.24B |
| 2023Q2 | -$2.10B |
| 2023Q3 | -$2.71B |
| 2023Q4 | -$282M |
| 2024Q1 | $706M |
| 2024Q2 | -$521M |
| 2024Q3 | -$1.22B |
| 2025Q1 | -$31M |
| 2025Q2 | -$1.53B |
| 2025Q3 | -$1.37B |
| 2025Q4 | -$1.06B |
| 2026Q1 | -$2.38B |
| 2026Q2 | -$3.99B |
Latest: 1.29B (2026Q2)
| Period | Value |
|---|---|
| 2021Q1 | 116M |
| 2021Q2 | 365M |
| 2021Q3 | 801M |
| 2021Q4 | 807M |
| 2022Q1 | 853M |
| 2022Q2 | 910M |
| 2022Q3 | 917M |
| 2022Q4 | 928M |
| 2023Q1 | 929M |
| 2023Q2 | 937M |
| 2023Q3 | 951M |
| 2023Q4 | 959M |
| 2024Q1 | 1.04B |
| 2024Q2 | 1.07B |
| 2024Q3 | 1.10B |
| 2024Q4 | 1.10B |
| 2025Q1 | 1.19B |
| 2025Q2 | 1.18B |
| 2025Q3 | 1.29B |
| 2025Q4 | 1.21B |
| 2026Q1 | 1.38B |
| 2026Q2 | 1.29B |
Latest: -$26.07B (2026Q2)
| Period | Value |
|---|---|
| 2022Q1 | -$1.04B |
| 2022Q2 | -$2.00B |
| 2022Q3 | -$4.91B |
| 2022Q4 | -$7.35B |
| 2023Q1 | -$9.59B |
| 2023Q2 | -$11.69B |
| 2023Q3 | -$14.41B |
| 2023Q4 | -$14.69B |
| 2024Q1 | -$13.98B |
| 2024Q2 | -$14.50B |
| 2024Q3 | -$15.72B |
| 2025Q1 | -$15.75B |
| 2025Q2 | -$17.28B |
| 2025Q3 | -$18.65B |
| 2025Q4 | -$19.70B |
| 2026Q1 | -$22.09B |
| 2026Q2 | -$26.07B |
Latest earnings
Company History
Founded by Stanford University graduate students Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, initially focusing on student loans.
Raised $77.2 million in funding led by Baseline Ventures to support student loan programs.
Raised $500 million in debt and equity; created first securitization of peer-to-peer student loans with Barclays and Morgan Stanley.
Raised $80 million in Series C funding to expand student loan refinancing into mortgages and personal loans.
Raised $200 million; began offering personal loans and mortgages in 20+ states; funded over $2 billion in loans.
Raised $500 million from Silver Lake and SoftBank for global expansion; launched online wealth management service.
Went public through a SPAC merger, beginning trading on Nasdaq under ticker SOFI.
Received approval for a national bank charter, becoming the first full-service fintech startup to do so.
Launched cryptocurrency trading directly in app and introduced its own stablecoin, SoFiUSD.
SoFi met the S&P 500 inclusion criteria on profitability and market cap, but was not added at the March 2026 rebalance — S&P added Vertiv, Lumentum, Coherent and EchoStar effective March 23 — nor at the June changeover.
Key Players
The CEO view — 8 podcasts, interviews & articles →
